“Despite the challenges brought about by the increasing ore supply from Indonesia, we are very pleased by the company’s performance during the year,” company president Martin Antonio G. Zamora said in a statement.

“As we look at the medium-term prospects of our company, we believe that LME-linked nickel has the most potential to outperform the commodity market given the evolution of battery technology,” Zamora said. “We are fortunate that a sizeable segment of our market is able to capture this.”

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